No way, I mean I'm not saying cryptos are old. It's just the beginning, but the very nature of every hype is like this. Many people join the "hype train" without any further knowledge in the given matter or subject.

When they realize the major drawbacks (most importantly that there is no "easy money" in crypto), they leave, and this cooldown causes prices dropping.

Actually, I think it's happening in any market, when sudden price increase happens. It's some sort of bubble effect, and can be quite ugly sometimes, think of the Great Depression, or the Dotcom Bubble of the early 2000s.

Then again, I'm not an expert.